Fortress Biotech, Inc. Quarterly report pursuant to Section 13 or 15(d)

Quarterly report pursuant to Section 13 or 15(d)

Property and Equipment

Property and Equipment

3 Months Ended

Mar. 31, 2018

Property, Plant and Equipment [Abstract]

6. Property and Equipment

Fortress's property and equipment, exclusive of National's property and equipment, consisted of the following ($ in thousands):

	Estimated Useful	March 31,		December 31,
	Lives (in years)	2018		2017
Computer equipment	3	$	594	$	543
Furniture and fixtures	5		1,015		1,009
Machinery and equipment	5		143		143
Leasehold improvements	5 - 15		5,383		5,351
Construction in process ⁽¹⁾	N/A		4,237		1,241
Total property and equipment			11,372		8,287
Less: accumulated depreciation			(1,367)		(1,171)
Property and equipment, net		$	10,005	$	7,116

(1)

Relates to the Mustang cell processing facility

Fortress's depreciation expense for the three months ended March 31, 2018 and 2017, was approximately $0.2 million and $0.2 million, respectively, and was recorded in both research and development expense and general and administrative expense in the Condensed Consolidated Statements of Operations.

National's property and equipment as of December 31, 2017 and September 30, 2017, consisted of the following ($in thousands):

	Estimated Useful	December 31,		September 30,
	Lives (in years)	2017		2017
Equipment	5	$	1,339	$	1,306
Furniture and fixtures	5		291		284
Leasehold improvements	Lesser of useful life or term		1,011		1,006
Capital Leases (primarily composed of computer equipment)	5		276		276
Fixed assets gross			2,917		2,872
Accumulated depreciation and amortization			(644)		(475)
Fixed assets net		$	2,273	$	2,397